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mortgage: FHA mortgage insurance increases - 04/20/11 04:09 PM
FHA Mortgages Are Now More Expensive
FHA loans are guaranteed by the federal government. Should a home owner default on her monthly payments, the U.S. Department of Housing and Urban (HUD) development has committed to paying the lender a percentage of the default on the debtor's behalf. Part of the payments made on an FHA loan is based on a monthly insurance fee, otherwise known as a mortgage insurance premium (MIP). The second increase in MIP since October 2010 took effect on Monday 18, 2011. The upfront MIP remained unchaged at 1%.
What this means is on a $200,000 loan the monthly payment … (2 comments)

 
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Michael Adams

Franklin Township, NJ

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Keller Williams Cornerstone Realty

Address: 2230 Route 206, Belle Mead, NJ, 08503

Office Phone: (908) 359-0893

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08873 is the Postal Code for Franklin Township in Somerset County, NJ and we love living here. Hi, I'm Mike Adams and this is a Real Estate blog For and About current and future residents of Franklin Township, also known as Somerset New Jersey. I would love to help you with your central NJ real estate needs. Just contact me via phone, my websites or email. I invite your comments and please visit Somerset 08873 often. Michael Adams CENTURY21 Moretti Realty 852 Easton Ave, Somerset, NJ 08873 Business: 732.828.3700 ext.306 PLEASE CALL DIRECT: 908.377.9262 Fax: 732.828.3913 mjadams@century21.com http://www.mjAdamsSellsHomes.com


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